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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (28877)	10/8/1999 8:48:00 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

Don Green: Well I wonder if Y2K technically is a non event, how quickly rates will rise after the first. I am trying to schedule a Mortgage lock up...<g> Regards, LG

To: Don Green who wrote (28877)	10/9/1999 10:47:00 AM
From: Don Green	Respond to of 99985

> > I have fostered the expectation that Y2K would be at least, a self fulfilling prophecy before the end of this year. Big Traders To Halt Account Settlements At Year End Friday, October 8, 1999 TOKYO (Nikkei)--Large trading companies aim to settle accounts and conclude currency forward contracts before the end of the year or after early January to avoid any problems caused by the millennium computer bug. Mitsui & Co. (8031) aims to receive funds before the end of December and make payments from the second week of January, company officials said Friday. It will also reduce foreign exchange trading in the first week of January. The Tokyo-based firm is set to take countermeasures against any risk resulting from lower creditworthiness and breaches of contract caused by payment delays. Mitsubishi Corp. (8058), Nissho Iwai Corp. (8063) and Tomen Corp. (8003) have directed sales divisions not to settle accounts in early January. Mitsubishi plans to hold down its positions on products handled, while Tomen may increase cash in hand and deposits toward the end of December. Although most large trading companies have basically concluded measures to prepare their financial and accounting computer systems for the millennium shift, they remain cautious about potential problems. The average balance of commercial paper issued by the nation's nine major trading firms totals 3 trillion yen, about 20% of total CP issues. (The Nihon Keizai Shimbun Saturday morning edition) I expect to see many more similar reports in the coming weeks. Don